ISLAMABAD: In a recent development, the Federal Minister for Energy, Sardar Owais Ahmed Khan Leghari, announced that for the first time in the history of the country, the “Competitive Energy Market Policy” will enter its final implementation phase in the next two months, after which the government’s power procurement will end permanently.
The Energy Minister made this statement during a meeting with a high-level delegation from the World Bank, led by the World Bank’s Regional Vice President for the Middle East, North Africa, Afghanistan, and Pakistan, Ousmane Dione.
The Federal Minister for Energy said that under the “CTBCM”, free trade of electricity will be possible in the market.
Under this model, “wheeling charges” and other mechanisms are being introduced, and the role of the government will be limited to the regulatory framework only.
He clarified that this transition will be done gradually and under a comprehensive strategy so that stability remains in the system.
During the meeting, Sardar Owais Leghari briefed the World Bank delegation on the government’s energy reforms, net metering policy, privatization, regulatory improvements, and investment opportunities.
He said that Pakistan’s policy is clearly biased towards the promotion of the private sector and transparency, and we want international investors to be partners in this.
Mr. Usman Dion appreciated the reforms in the energy sector in Pakistan and emphasized that energy is the basis of development, and the energy sector is very important for the development of any country.
That is why the World Bank will continue to support Pakistan in this sector. He said that the World Bank stands shoulder to shoulder with the Government of Pakistan to promote a sustainable, reliable, and investment-friendly energy system.
The Federal Minister also presented the World Bank delegation with a comprehensive booklet based on the ongoing reforms in the sector and expressed the hope that the current partnership will be further strengthened in the future.
